Being A Notary, And Getting The Deed In My Company
I recently have become a notary. In my get the deed and lease opt business I have been having some one else notaries my doc. We have been buying through a warrnanty deed to trustee. By next week my partner and I will be in the process of creating a corp. What type should it be? Also what postition shoud I hold to avoid breaking the law because I will be essecially notarising my own papers , and also how to protect myself in the partnership considering he doesn't do anything, but put up money. I trust him but I don't want to give him all the power and just be giving away all the properties I have acquired if we were to dissolve the partnership. Your advice from anyone would be appreciated.
Nicholas,
I am a notary in California. What your talking about doing (notarizing your own documents.... something you have a vested interest in) in California is illegal. IMHO you are opening yourself up to all kinds of legal issues to save a few bucks. You can do everything correctly and still get burned with the scenario you propose. Again IMHO I would just hire a independent notary ($10 here) and be done with it. My two cents.
Rich Kelley
I agree, it is illegal to notarized documents that you have a vested interest in. It's self defeating. Some lenders even have to approve notary service to do their outside notary.
Yes in California a big no no and it is pretty much the same all over the world.
It used to be that if you notarized a document in which you had a color of title and it was recorded. After 12 months the notary was defendable as a notarized document and the recording would not be nulified. But why be dumb.
I always remember once upon a time when I was a notary. I took the notary of a husband and wife. They showed documentation to me and I notarized a Deed of Trust as they were borrowing money from my firm. A corporation in which I held no office.
They went into foreclosure and the foreclosure sale went thru and my corporation owned the property. I got a call from a nice friendly attorney who suggested I get in my car and come to his office at once or as he phrazed it, "Or else." I did. I was confronted by the same lady only with another man who she now identified as her husband. They had comitted a fraud on the notary. They were naughty but I was negligent. So I cancelled the foreclosure, reinstated the Note and Deed of Trust, gave them a check to cover their attorney costs and gave them a credit for the missed payments.
Oh it came out allright. My judgement was correct they went right back into foreclosure and in six months we owned the property. Only this time the Note and Deed of Trust was notarized by that nice attorney.
I gave you an answer and an example of what people do. Hope I am helpfull.
Lucius <IMG SRC="images/forum/smilies/icon_cool.gif"> <IMG SRC="images/forum/smilies/icon_cool.gif"> [ Edited by Lufos on Date 11/30/2003 ]
Thanks for all the replies, I now know I shouldn't do it.
This may be a stupid question, but don't they cover this when you become a notary? It seems like a rule like you can't notarize your own documents would be part of what they would tell you during the process?
what is IMHO
In my humble opinion IMHO!
Thanks, i'm still working on this aol slang...
I thought she might have been saying "It might be hot outside" or something similar